Diversification has been the rule of thumb for Freisenbruch-Meyer Insurance Services Ltd. and has caused the company's continued growth, according to the company's founder.

Mr. Michael Freisenbruch, who started the insurance and financial services group 15 years ago, said the business began when a new company was formed to represent British insurer Royal Insurance in Bermuda.

FMIS was set up in conjunction with Meyer Agencies Ltd., to provide general insurance services to the local Bermuda market.

Mr. Freisenbruch is the major shareholder in the privately-held group of four companies while the Wor. J. Henry Hayward, mayor of St. George's and president of Meyer Agencies Ltd., is the vice president of FMIS.

"I formed FMIS with Meyer Agencies, to be a new company to represent Royal Insurance in Bermuda,'' Mr. Freisenbruch said.

FMIS is now the principal Bermuda representative for the Royal, which is celebrating its 150th anniversary.

Royal Insurance, in their publication The Royal Magazine, recently included an article about Royal's 132 year link to Bermuda.

The oldest reference to Royal is an advertisement in The Royal Gazette in September 1863.

In the advertisement, "Royal Insurance Comp'y'' is promoting fire and life coverage and notes the company is capitalised at 2 million.

At that time, interested parties could acquire a copy of the prospectus from the office of the Bermuda agents, R.S. Musson & Co.

Headquartered in London, Royal has operations in 60 countries and services over 90 countries.

Preferring not to divulge FMIS sales or premium figures, Mr. Freisenbruch did say business has grown steadily each year.

FMIS sustained just under $800,000 in insured losses stemming from damage caused by Hurricane Felix in August. About half that amount was marine related, Mr. Freishenbruch said.

He estimated the company's total premium volume was split fairly evenly between personal lines and commercial lines.

"We insure as many business interests as private interests.

"Clients who pay Bermuda dollars for risks in Bermuda are among the range of services and lines of business we handle,'' he said.

The success of FMIS, which employs 15 people, is linked to technical competence, innovation, and efficient service and claims handling, he said.

The company bought the overseas portfolios of Continental, Norwick Union and Provincial to increase market share.

The group of companies, as well as FMIS, includes; Freisenbruch-Darrow Management Services Ltd., formed in 1982 to provide management and accounting services to Bermuda-based trading and captive insurance companies, Freisenbruch-Meyer International Services Ltd., incorporated as Atlas Management Services, was acquired in 1982 to be a broking services vehicle, and the Marine Insurance Office (BVI) Ltd.

Mr. Freisenbruch, 44, returned to Bermuda in 1974 after graduating from York University in Toronto and went to work for insurance company Harnett & Richardson Ltd. (H&R).

After five years, he left that firm to set up FMIS.

Mr. Freisenbruch had high praise for H&R president Mr. Stanley Evans who gave him the opportunity to enter the insurance business.

He also recognised H&R insurance manager Mr. Simon Everett, now president of H&H Re-Insurance Brokers Ltd., as a major influence on his own insurance career.

Freisenbruch with a book and plaque marking Royal's 150th anniversary. FMIS is the principal agent for Royal in Bermuda.